General Electric sells Distributed Power to Advent for $3.25 billionStaff Writer | June 26, 2018
General Electric (GE) announced that it has signed a definitive agreement to sell its Distributed Power business to Advent International, one of the largest and most experienced global private equity investors, for $3.25 billion.
Acquisition Distributed Power is a business unit of GE Power
Distributed Power, a business unit of GE Power, is a leading provider of reciprocating gas engines, power equipment and services focused on power generation and gas compression at or near the point of use.
Distributed Power offers a diverse product portfolio that includes highly efficient, fuel-flexible, industrial gas engines generating 200 kW to 10 MW of power for numerous industries globally.
With approximately 3,000 employees and three main facilities located in Austria, the U.S. and Canada, Distributed Power has delivered more than 48,000 Jenbacher and Waukesha reciprocating gas engines to customers around the world.
The Distributed Power business had sales of $1,317 million for the year ended December 31, 2017. ■